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Kroger Co. said late Monday that longtime Chief Financial Officer J. Michael Schlotman will retire in April, to be succeeded by Gary Millerchip. Schlotman will remain through December 2019 to ensure a "smooth transition" for Millerchip, currently the company's CEO of Kroger Personal Finance. Shares of Kroger were flat in the extended session after ending the regular trading day down 2.1%.

Kroger Co.'s profit margin is getting pinched as the grocer ramps up investments to compete in the cutthroat U.S. grocery market. The Cincinnati-based company, in an effort to expand beyond its traditional business of selling groceries in stores to compete with Amazon.com Inc. and others, has struck six deals this year to boost sales online and elsewhere, such as in Kroger-branded locations in select Walgreens Boots Alliance Inc.

Kroger Co. reported a fiscal third-quarter profit that beat expectations, but shares of the grocery store chain slumped 1% in premarket trade Thursday, weighed down by the sharp selloff in the broader market. Net income fell to $317 million, or 39 cents a share, from $397 million, or 44 cents a share, in the same period a year ago. Excluding non-recurring item, adjusted earnings per share came to 48 cents, above the FactSet consensus of 43 cents. Sales decreased 0.3% to $27.67 billion, just above the FactSet consensus of $27.65 billion, while digital sales grew 60%. The company cut its 2018 net EPS outlook to $3.80 to $3.95 from $3.88 to $4.03, to reflect the market value adjustment related to its investment in Ocado, but affirmed its adjusted EPS guidance of $2.00 to $2.15. "Kroger is transforming our business model. We're moving from a traditional grocer to a growth company with both a strong customer ecosystem that offers anything, anytime, anywhere, and asset-light, high-margin alternative partnerships and services," said Chief Executive Rodney McMullen. The stock has shed 12% over the past three months through Tuesday, while the Dow Jones Industrial Average has lost 3.7%.

Kroger Q3 EPS 39 cents vs. 44 cents a year ago

Kroger Co. said Friday that it will stock nearly 600 stores with items from Geoffrey's Toy Box, merchandise that was once exclusive to the bankrupt Toys 'R' Us chain. The items will range in price from $19.99 to $49.99 and will include merchandise from brands like Animal Zone and Journey Girls. This is the first holiday season without Toys 'R' Us and retailers including J.C. Penney Co. Inc. , Target Corp. and Walmart Inc. have stepped up their toy departments to fill the void and gain market share. Kroger shares have gained nearly 7% in the year so far, outpacing the S&P 500 index , which is up 2.5% for the period.

Ocado Group PLC (OCDO.LN) said Tuesday that it has agreed service and operational terms with U.S. retailer Kroger Co. KR for a partnership between the two companies. Under the agreement, which was first announced in May, Kroger will order 20 customer-fulfillment centers over the first three years of the deal, and the first three centers by the end of 2018.

Kroger Co. said Tuesday it will hire more than 10,000 seasonal employees for the holiday season, which represents a big decline from last year's seasonal hiring plans. This year's seasonal hires will be in areas including customer service support, e-commerce, merchandising, operations and the pharmacy. The supermarket chain said interested candidates should apply for seasonal jobs at "jobs.kroger.com." Last year, the company had estimated hiring 14,000 seasonal employees for the holidays. Kroger's stock rose 1.2% in afternoon trade. It has rallied 33% over the past 12 months, while the S&P 500 has gained 6.9%.

Oct. 23, 2018 at 2:34 p.m. ET

by Tomi Kilgore

Kroger to hire more than 10,000 seasonal workers for the holiday season

Kroger to hire more than 10,000 seasonal workers for the holiday season

Kroger Co. says it launched wine delivery "within the past week" through a partnership with Drinks, an online wine marketplace. Kroger has a website for wine ordering, with delivery available in 14 states including Florida, Nevada and New Hampshire. Last Thursday, Kroger announced the October roll out of Wine Society canned wine to select Ohio and Kentucky stores. Kroger shares are up 33% for the past year, outpacing the S&P 500 index , which is up 9.7% for the period.

Kroger Co. and recently-purchased meal-kit company Home Chef announced Wednesday the launch of weekly rotating in-store kits at select Kroger locations. The company will also launch a limited test of the new Home Chef Express product, a meal kit that could be ready to eat in about 15 minutes. The Home Chef meal kits will first be available at select Kroger locations in Illinois, Kentucky, Michigan, Ohio and Wisconsin, with additional locations expected in 2019. Kroger announced the deal to buy Home Chef for up to $700 million in May. Kroger's stock has lost 3.0% over the past three months, while the S&P 500 has gained 3.1%.

Food makers are devising more expensive sizes and flavors of their treats and breakfast foods, a subtle strategy to cover rising costs as tough competition holds down prices elsewhere in the supermarket.

Kroger Co.’s finance chief for nearly the last two decades will step down next spring, as the grocer tries to find its footing in a market transformed by Amazon.com Inc. and changing consumer behavior.

Notable corporate earnings reports this week will come from Dollar General and Hewlett-Packard Enterprise on Tuesday, followed by The Kroger Co. and Broadcom on Thursday. Ford Motor will also release its November U.S. sales figures on Monday.

Its push is happening online, on devices such as FireTV and on delivery boxes, challenging the big ad sellers, including Facebook, Google and TV networks. Marketers are conflicted between wanting the company’s data and fearing it as a competitor.

Recent News

Food makers are devising more expensive sizes and flavors of their treats and breakfast foods, a subtle strategy to cover rising costs as tough competition holds down prices elsewhere in the supermarket.

24/7 Wall St. screened the Merrill Lynch research database looking for good ideas for worried investors, with a focus on stocks that should perform even if the economy slides into recession and that paid a solid and dependable dividend.

Kroger Co.’s finance chief for nearly the last two decades will step down next spring, as the grocer tries to find its footing in a market transformed by Amazon.com Inc. and changing consumer behavior.

Shares of Costco (COST) popped 0.57% during regular trading hours Wednesday just one day before the discount grocery powerhouse is set to release its quarterly financial results. Fellow industry giants Kroger (KR) and Walmart (WMT) both reported solid results earlier this quarter, so let's see what to expect from Costco Thursday.

Kroger Co.

The Kroger Co. engages in the operation of retail food and drug stores, multi-department stores, jewelry stores, and convenience stores. It also manufactures and processes some of the food for sale in its supermarkets. The combination food and drug Stores are the primary food store format. The multi department stores sells a wide selection of general merchandise items such as apparel, home fashion and furnishings, electronics, automotive products, toys and fine jewelry. The marketplace stores offer full-service grocery and pharmacy departments as well as an expanded general merchandise area that includes outdoor living products, electronics, home goods and toys. The price impact warehouse stores offer a 'no-frills, low cost' warehouse format and feature everyday low prices plus promotions for a wide selection of grocery and health and beauty care items. The company was founded by Barney Kroger in 1883 and is headquartered in Cincinnati, OH.
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